Arbitration: 12,187 results found.
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Arbitration Definition
Arbitration is a dispute settlement technique outside the court where the conflicting parties any choose to bound to the decision made by a third party or person. The third person/party acts as the mediator between the opposite parties and is called as arbiter or arbitrators, if they are many. Arbitration definition also includes the strict and legal acceptance of the decision finalised by the arbitrators. This technique is majorly employed in case of commercial disputes, employment issues and customer related conflicts. Arbitrators majorly play role in compromising the situation by presenting such a case which should be convenient to accept by both the parties.
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